AutoBeta(AutoBeta.net)02/28 Report--

Foreign media reported that Tesla was applying for about $2 billion (more than Rmb13bn) in loans from Chinese banks to build battery and car factories in Shanghai.

Warren, an investment research firm, said in a report that it expects Shanghai Pudong Development Bank, Industrial and Commercial Bank of China (ICBC), China Construction Bank (CCB) and Agricultural Bank of China (ABC) to become loan supporters for Tesla's Shanghai plant. About $500m (3.3 billion yuan) of Tesla's new financing will be used for the first phase of the construction of a superfactory in Shanghai, with loans totaling about $2 billion, Warren said.

In addition, Warren Hai revealed more details of the loan. Warren said Tesla's first-stage financing interest rate could be 3.9%, lower than the benchmark interest rate of 4.35% of the people's Bank of China.

On January 7, 2019, Tesla's China factory broke ground with an investment of 14.076 billion yuan in the first phase of the project. Earlier, domestic media reported that a number of bankers attending the local "two sessions" held in Shanghai on January 26 told Caixin that Tesla was currently seeking bank loans in the form of a syndicate, and many domestic banking institutions were actively striving for them. at present, bidding is still under way, and the terms of the loan have not yet been determined.

An official of the Shanghai Economic and Information Technology Commission told the media during the "two sessions": "as far as I know, banks are scrambling to give it loans." If one bank wants to make a separate loan, other banks will not do it. "

According to the plan, the first phase of Tesla's Shanghai plant will be completed this summer, and production of Model 3 models will begin by the end of the year, with initial production of about 3000 Model 3 vehicles per week, with an annual capacity of 250000 vehicles in the first phase, followed by mass production in 2020.

Welcome to subscribe to the WeChat public account "Automotive Industry Focus" to get the first-hand insider information on the automotive industry and talk about things in the automotive circle. Welcome to break the news! WeChat ID autoWechat